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2000U034a .. . , : ��
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<br /> B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br /> promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary executed
<br /> after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one
<br /> person signs this Security Instrument, each Trustor agrees that this 5ecurity Instrument will secure all future
<br /> advances and future obligations that are given to or incurred by any one or more Trustor,or any one or more Trustor
<br /> and others. All future advances and other future obligations are secured by this Security Instrument even though all
<br /> or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date
<br /> of this Secunty Instrument. Nothing in this Security Instrument sha11 constitute a commitment to make additional or
<br /> future loans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br /> C.All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including,
<br /> but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and
<br /> Beneficiary. p
<br /> D hle Property andTits value d any other sums advanced and expens s incurred by Benefciary underethe terpms of ths
<br /> Security Instrument.
<br /> This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of the right of
<br /> rescission.
<br /> 5, - p��4Vi�N'x'S. 1`rustnr a�r�es drarali pa�merits unde�r the Secured lletx wiil b:�paidwhen due and iri accordance with the
<br /> terms of the Secured Debt and this Security Instrument.
<br /> 6, WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br /> Security Instrument and has the right to inevocably grant, convey, and sell the Property to Trustee, in trust, with power of
<br /> sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br /> 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br /> document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br /> A.To make all payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br /> C.Not to allow any modification or extension of, nor to re4uest any future advances under any note or agreement
<br /> secured by the lien document without Beneficiary's prior written consent.
<br /> S. CLAIlVIS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br /> utilities, and other chazges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br /> copies of all notices that such amounts are due and the receipts evidencmg Trustor's payment. Trustor will defend title to
<br /> the Pro�erty against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br /> Beneficiary, as rec�uested by Beneficiary, any rights, claims or defenses Trustor may ha�e against parties who supply labor
<br /> or materials to mamtain or improve the Property.
<br /> 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declaze the entire balance of the Secured Debt to
<br /> be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or
<br /> sale of the Property. This nght is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This
<br /> covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br /> Instrument is released.
<br /> �� PItQPERTY E�I'�'���_�,T��T�p;+,F� �'°�D Il+ti���EC`i`I�Ai: Trustor wiil keep t[ie Property in gdod condition
<br /> and make all repairs that are reasonably necessary. Trustor sha11 not commit or allow any waste, impairment, or
<br /> deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the
<br /> nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not
<br /> permit any change m any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will
<br /> notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the
<br /> Property.
<br /> Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the�urpose
<br /> of inspectmg the Property. Beneficiary sha11 give Trustor notice at the time of or before an inspection specify mg a
<br /> reasonable purpose for the mspection. Any inspection of the Property shall be entirely for Beneficiary's bene�'it and
<br /> Trustor will in no way rely on Beneficiary s mspection.
<br /> 11. AUTHOItITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants contained in this Security
<br /> Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor a�points Beneficiary as
<br /> attomey in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary s right to perform for
<br /> Trustor shall not create an obligation to perform, and B�orl this'Securit r Instruementm If lany construcrio non hel Property
<br /> exercising any of Beneficiary s other rights under the Y
<br /> is discontmued or not carried on m a reasonable manner, Beneficiary may take all steps necessary to protect Beneficiary's
<br /> security interest in the Property, including completion of the construction.
<br /> 12. ASSIGNMENT OF LEASES AND REr1TS• Trustor inevocably grants, conveys and sells to Trustee, in trust for the
<br /> benefit of Beneficiary, as additional security all the right, title and interest in and to any and all existing or future leases,
<br /> subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Property, including
<br /> any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues
<br /> and profits (all referred to as "Rents"). Trustor will promptly provide Beneficiary with true and conect copies of all
<br /> existmg and future Leases. Trustor may collect, receive,`en�oy and use"�e_Rents s��lon3 as Trust�r i� not in default under
<br /> the terms of this Security Instrument.
<br /> Trustor acknowledges that this assignment is perfected upon the recording of this Deed of Trust and that Beneficiary is
<br /> entitled to notify any of Trustor's tenants to make �ayment of Rents due or to become due to Beneficiary. However,
<br /> Beneficiary agrees that only on default will Beneficiary notify Trustor and Trustor's tenants and make demand that all
<br /> future Rents be paid directly to Beneficiary: On receivmg notice of default, Trustor will endorse and deliver to Beneficiary
<br /> any payment of Rents in Trustor's possession and will receive any Rents in trust for Beneficiary and will not commingle
<br /> the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Trustor
<br /> warrants that no default exists under the Leases or any applicable landlord/tenant law. Trustor also agrees to maintain and
<br /> require any tenant to comply with the terms of the Leases and applicable law.
<br /> 13. LEASEHOLDS; CONDOMINIUMS; PLANNED iJNIT DEVELOPMENTS. Trustor agrees to comply with the
<br /> provisions of any lease if this Security Insfrument is on a leasehold. If the Property includes a unit in a condommium or a
<br /> planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit development. ,
<br /> � f R����.!'L
<br />` p1994 Bankers Systems,Inc.,St.Cloud,MN (1-800-397-2341) Form RE-DT-NE 70/27/97 - � I
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